“Price per oz needs to go up 50-100x. Done.”
No, the purchasing power of the dollar needs to go up 100x because it is backed by Gold.
Reinstituting a “gold standard” is just an artificial constraint on the money supply similar to such devices as the “debt ceiling” or “social security trust fund”. It was largely abandoned because it forced global governments to balance their trading accounts by shipping gold bullion around the world which was risky. The modern approach was to have floating exchange rates between sovereign nations so they can convert their fiat currencies to other currencies to pay their foreign obligations.
Since the Fed would set the value of gold and fractional reserve requirements to match the amount of dollars needed by the Treasury to pay its bills, it just adds another level of complexity just to appear more virtuous.
Currency issuers like the Federal government can create whatever funds they need to pay their obligations provided they don’t exceed the productive capacity of the real economy and drive up inflation. They call this Modern Monetary Theory but it’s not a theory, it’s actually how it is done.